Roark Portfolio Company Driven Brands Acquires Ohio-Based Lube Stop
Driven Brands Strengthens Quick Lube Division with Purchase of 51 Midwest Centers
CHARLOTTE, NC (PRWEB) September 29, 2016 - Driven Brands, a portfolio company of Roark and the nation's leading automotive franchisor, announced today the acquisition of Ohio-based Lube Stop. Founded in 1985, Lube Stop operates 51 quick oil change locations across three states in the Midwest. This acquisition continues the tremendous growth for the Quick Lube division at Driven Brands – which includes Take 5 Oil Change, Pro Oil Change and Driven Florida Lubes – that now totals more than 220 locations throughout North America.
“The addition of Lube Stop strengthens our commitment to the strategic growth of our Quick Lube division with top-performing, complementary companies,” said Jonathan Fitzpatrick, CEO of Driven Brands. “Lube Stop is a great addition to our portfolio as it has remained an industry leader for more than 30 years, due in large part to its customer-first premise and stellar operations.”
"This represents terrific growth for the newly formed Quick Lube Vertical at Driven Brands," said Quick Lube Group President Marc Graham. "In just six months, we’ve greatly increased our footprint while offering unrivaled service to customers. Backed by Driven Brands’ world-class technology, purchasing power, operational support and resources, we’ve been able to accelerate our growth and success."
Driven Brands manages a family of automotive companies including Maaco, Meineke Car Care Centers, CARSTAR North America, 1-800 Radiator & A/C, which collectively generate annual system revenues of more than $2.1 billion.
Lube Stop represents the 6th major acquisition for Driven Brands since Roark acquired the business, expanding the collective brands' footprint to more than 2,000 locations in the U.S.
About Driven Brands
Driven Brands, headquartered in Charlotte, NC, is the parent company of North America's leading automotive aftermarket brands across four distinct verticals: Repair & Maintenance, housing Meineke Car Care Centers® and Merlin 200,000 Mile Shops®; Paint & Collision, housing Maaco®, CARSTAR North America® and Drive N Style®; Distribution, housing 1-800-Radiator & A/C®; and Quick Lube, housing Pro Oil Change®, Econo Lube N' Tune®, Driven Florida Lubes® and Take 5 Oil Change. Driven Brands has more than 2,000 centers across North America, and combined, all businesses generate more than $2.1 billion in system sales. For more information, visit http://www.DrivenBrands.com.
About Lube Stop
Celebrating its 32nd year, Lube Stop is one of the oldest and largest privately-owned quick oil change companies in the Midwestern U.S. Every month more than 40,000 customers choose one of Lube Stop’s 51 locations for oil changes and a variety of other vehicle maintenance services. With a “Powered By People” mantra and a 20-point service inspection with every oil change, Lube Stop has become a leading service provider offering fluid and filter service in a fast, friendly and clean environment. For more information visit http://www.LubeStop.com.
About Roark Capital Group
Roark focuses on franchised and multi-unit business models in the retail, restaurant, consumer and business services sectors. Since inception, affiliates of Roark have invested in 57 franchise/multi-unit brands, which have generated $21 billion in annual system revenues from 23,000 locations in 50 states and 75 countries. Roark's current brands include Anytime Fitness, Arby's, Atkins Nutritionals, Batteries Plus Bulbs, CKE Restaurants (the owner of Carl Jr.'s and Hardee's), Corner Bakery, Driven Brands (the owner of Maaco, Meineke, CARSTAR, 1-800 Radiator and Take 5 Oil Change), Drybar, FOCUS Brands (the owner of Auntie Anne's Pretzels, Carvel Ice Cream, Cinnabon, McAlister's Deli, Moe's Southwest Grill, and Schlotzsky's), Great Expressions Dental Centers, Il Fornaio, Massage Envy, Miller's Ale House, Naf Naf Grill, Orangetheory Fitness, Pet Retail Brands (the owner of Pet Supermarket and Pet Valu), Primrose Schools, Waxing the City and Wingstop. For more information, please visit http://www.roarkcapital.com.
SOURCE Driven Brands
Comments:comments powered by Disqus
- Expansions & Growth
- Financial & Earnings Claims
- Mergers & Acquisitions
- Personnel Changes
- General Announcements
- Conferences & Events
- Product Announcements
- Media Coverage
- Strategic Alliances